Hire Purchase (HP) representative example
Based on a cash price of €52,950 with a €18,533 deposit total, borrowing €34,418 at a representative APR of 9.00% and the following:
- 58 monthly payments of:
€705.30
- Final payment:
€780.30
- Cash price:
€52,950.00
- Customer deposit:
€18,532.50
- Total deposit:
€18,532.50
- Amount of credit:
€34,417.50
- Total amount payable:
€61,000.50
- Option to purchase fee:
€75.00
- Documentation fee:
€75.00
- Rate of interest:
8.45%
- APR:
9.00%